tires for my new 15x4 rims

I'm looking at running a 4" wheel up front too and was trying to figure out what size tire I'd need. Found several other cars on the net using 165/80/15, but you guys are talking about 205's and 195's. Would I be better off with these for street/strip use? I also wondered about the speed ratings. The 165/80/15 I was looking at had a "T" rating I believe which was good to 118 mph. I should be doing well over that at the end of the track. Would this be ok since it will only be for a second or two over the speed rating of the tire?